CANADA STOCKS-TSX may open lower on commodities, Greece

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April 28 (Reuters) - Toronto’s main stock index could open lower on Wednesday, weighed by weak commodity prices as the U.S. dollar hit a one-year high versus the euro and as investors fret over Greece and Portugal’s debt problems.

European equities hit a seven-week low as banks took a pounding on concerns about euro zone debt contagion.

Wall Street is set for a slightly higher open, after previous session’s steep sell-off, ahead of the Federal Reserve’s interest rate decision and statement on the economy. [.N]

The Fed is expected to conclude a two-day policy meeting by keeping interest rates near zero and repeating its vow to keep rates low for an extended period.

Asian stocks fell with the news China would place a moratorium on capital raising by real estate firms as part of a broader campaign to rein in property price rises.

Here is some news that could affect stock prices:

OIL FALLS

Oil fell for the third straight session taking losses this week to 4 percent on excess crude supplies in the United States and widespread fears a possible debt default in Greece could derail the recovery. [O/R]

COPPER AT MONTH LOW

Industrial metals fell for a second day on Wednesday, with copper dropping to a one-month low after the dollar hit a one-year high versus the euro and investors fretted over Greece and Portugal’s debt problems. [MET/L]

GOLD EASES

Gold eased in Europe on Wednesday from Tuesday’s 2010 high as the dollar reached a one-year peak against the euro, but the metal remains firmly supported by fears euro zone sovereign risk is spreading. [GOL/]

BARRICK GOLD PROFIT JUMPS

Gold producer Barrick Gold Corp (ABX.TO) reported better-then-expected first-quarter earnings on increased production, lower total cash costs and higher realized prices for both gold and copper. IT posted adjusted earnings of 75 U.S. cents a share, up from 34 U.S. cents a year earlier. [ID:nN27154316]

CANADIAN PACIFIC PROFIT UP

Canadian Pacific Railway Ltd (CP.TO) reported first-quarter net income of C$100 million, an increase of 74 percent from C$57 million a year ago. The company posted adjusted earnings of 60 cents per share, on revenue of C$1.2 billion for the quarter. [ID:nN28168960]

JEAN COUTU POSTS PROFIT

Jean Coutu Group PJCa.TO returned to a fourth-quarter profit, benefiting from higher prescription drug sales, but the Canadian drug store chain narrowly missed expectations for revenue. [ID:nN28111465]

HYDROGENICS SETTLEMENT

Fuel-cell maker Hydrogenics Corp reached a settlement with American Power Conversion Corp and said under the terms of the settlement, APC has paid Hydrogenics US$1.2-million. [ID:nWNAB2978]

FIRSTSERVICE PROFIT UP

Real estate services company FirstService Corp reported first-quarter adjusted earnings of 15 U.S. cents a share, compared to 8 U.S. cents a year ago. The company posted revenue of US$402.4 million for the quarter. [ID:nWNAB3053]

SIMON CUTS VOTING STOCK IN GENERAL GROWTH BID

Simon Property Group Inc (SPG.N) has agreed to take a lower percentage voting stake in General Growth Properties Inc GGP.N as it tries to win over its rival into accepting its recapitalization offer, a source familiar with the matter said on Tuesday. Simon, the largest U.S. mall owner, met with General Growth’s board last week to persuade them to choose its offer over a competing proposal led by Brookfield Asset Management (BAMa.TO). [ID:nN27127786]

LIONS GATE POISON PILL VOID

SUNCOR REFINERY

A truck at Suncor Energy Inc’s (SU.TO) Montreal refinery exploded on Tuesday, sending eight people to hospital but having no impact on the plant’s operations, the company said on Tuesday. [ID:nN27127725]

DELTA, WESTJET ALLIANCE TALKS

Delta Air Lines (DAL.N) said on Tuesday it is in talks with WestJet Airlines Ltd (WJA.TO) on an alliance but that no deal has been reached. Last week Delta CEO Richard Anderson said during an earnings conference call that an alliance pact had been reached with WestJet. But WestJet put out a statement late on Monday saying that no such agreement has been signed although a “commercial relationship could occur in the future.” [ID:nN2714937]

TIMBERWEST BOUGHT DEAL

TimberWest Forest Corp TWF_u.TO on Tuesday said it would raise C$60 million in a discounted bought deal financing and use the proceeds mainly to repay debt. The timber and land management company said it would offer 12 million stapled units at C$5 each, a discount of about 9 percent. [ID:nSGE63Q0KQ]

VITRAN LOSS NARROWS

Transportation company Vitran Corp VTN.TO VTNC.O on Tuesday posted a narrower first-quarter loss that beat estimates, helped by reduced loss from operations and higher shipments at its less-than-truckload segment. [ID:nSGE63Q0JU]

RESEARCH ROUNDUP

Following is a summary of research actions on Canadian companies reported by Reuters on Friday. [RCH/CA]

Note: All values in RESEARCH ROUNDUP in Canadian currency unless otherwise stated.